January 26, 2024 02:35 GMT
MNI China Press Digest Jan 26: Delisting, Sino-EU, Land Sales
MNI (Singapore)
MNI (Beijing)
MNI picks keys stories from today's China press
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Highlights from Chinese press reports on Friday:
- Authorities should improve delisting standards to avoid issues such as speculation on “junk stocks”, said Tian Lihui, dean of Nankai University's Institute of Finance and Development. Measures should include strengthening requirements on financial indicators and corporate governance, Tian added. The China Securities Regulatory Commission said recently that policy will focus on strengthening the capital market and prioritising investors. Market insiders said the potential for improving the delisting system is large, as delisting enforcement remains weak, with companies able to avoid delisting through reorganisation and changing control rights. (Source: 21st Century Business Herald)
- Chinese companies are concerned by the EU’s plans to tighten FDI screening and economic security, according to the Chinese Chamber of Commerce in the EU. In total, 47% of member firms raised concern, with the chamber expecting business and investment confidence to be lower in the future. The chamber hoped the EU would ensure global supply chain stability, respect the global division of labour and avoid generalizing the "risk-reduction" strategy with the broader industrial sector.
- Land sale revenue this year will likely remain flat or increase slightly from 2023 given the low base level set during the past two years. Regional disparities will increase, with some provinces expecting double-digit revenue growth, while others decline. Local governments can drive sustainable local fiscal revenue growth by promoting smooth real estate market operations, improving business environment, upgrading industry, and attracting population inflow, said Luo Zhiheng, chief economist of Yuekai Securities. Land sales revenue totaled CNY4.2 trillion in the first eleven months of 2023, a fall of 17.9% y/y.
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